"These statistics remind us that we are more economically and racially divided than at any time in decades," said Chuck Collins, a co-author of the report.
Facebook exempts posts and ads from politicians from its fact-checking program and has declined to limit political ad targeting like some other platforms.
Emi Palmor will be one of the first 20 members appointed to the independent board from around the world.
Facebook CEO Mark Zuckerberg released comments Saturday afternoon on the current lawsuit launched that accuses Israeli spyware vendor NSO itself of exploiting a flaw in WhatsApp messaging service.
He attributed his religious evolution to the issues his company has faced over the last few years and the birth of his two daughters.
Sacha Baron Cohen used his moment at the podium to label Mark Zuckerberg a child who spreads Nazi propaganda, while Ricky Gervais told the crowd to f- off.
"Misinformation affects us all. Our current policies on fact-checking people in political office, or those running for office, are a threat to what FB stands for."